UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) March 29, 2012
CENTURY PROPERTIES FUND XIX, LP
(Exact name of Registrant as specified in its charter)
| Delaware | 0-11935 | 94-2887133 |
| (State or other jurisdiction | (Commission | (I.R.S. Employer |
| of incorporation) | File Number) | Identification Number) |
80 International Drive
Post Office Box 1089
Greenville, South Carolina 29602
(Address of principal executive offices)
(864) 239-1000
(Issuer's telephone number)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 2.01 Completion of Acquisition or Disposition of Assets.
Century Properties Fund XIX, LP, a Delaware limited partnership (the “Registrant”), owned Greenspoint at Paradise Valley (“Greenspoint”), a 336-unit apartment complex located in Phoenix, Arizona. On March 29, 2012, the Registrant sold Greenspoint to a third party, Hamilton Zanze & Company, a California corporation, for a total sales price of $29,750,000. The Registrant continues to own and operate three other investment properties.
In accordance with the terms of the Amended and Restated Limited Partnership Agreement of the Registrant, the Registrant’s managing general partner is currently evaluating the cash requirements of the Registrant to determine what portion of the net sales proceeds, if any, will be available to distribute to the Registrant’s partners.
Item 9.01 Financial Statements and Exhibits.
(b) Pro forma financial information.
The following unaudited pro forma balance sheet and statement of operations reflects the operations of the Registrant as if Greenspoint had been sold on January 1, 2011.
The pro forma financial statements do not project the Registrant’s results of operations at any future date or for any future period. This pro forma information should be read in conjunction with the Registrant’s Annual Report on Form 10-K for the fiscal year ended December 31, 2011.
PRO FORMA BALANCE SHEET
(in thousands)
December 31, 2011
| All other assets | $ 1,179 |
| Investment properties, net | 21,691 |
| Total Assets | $ 22,870 |
|
|
|
| All other liabilities | $ 7,495 |
| Mortgage notes payable | 37,351 |
| Partners’ deficit | (21,976) |
| Total Liabilities and Partners’ Deficit | $ 22,870 |
|
|
|
PRO FORMA STATEMENTS OF OPERATIONS
(in thousands, except per unit data)
|
| Year Ended |
|
| December 31, 2011 |
|
|
|
| Total revenues | $ 7,559 |
| Total expenses | (12,755) |
| Casualty gain | 69 |
| Net loss | $ (5,127) |
| Net loss per limited partnership unit | $ (50.65) |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
CENTURY PROPERTIES FUND XIX, LP
By: Fox Partners II
General Partner
By: Fox Capital Management Corporation
Managing General Partner
By: /s/Stephen B. Waters
Stephen B. Waters
Senior Director of Partnership Accounting
Date: April 3, 2012